EUR/MXN may fall 1336 - 1966 pips

Our pivot point stands at 21.0890.

Our preference

The downside prevails as long as 21.0890 is resistance.

Alternative scenario

Above 21.0890, look for 21.1950 and 21.2580.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 21.1723 and 21.2096).

Supports and resistances

21.2580 **

21.1950 *

21.0890 **

21.0473

20.9932 last

20.8596

20.7966 **

20.7336 *

20.6705 **

Number of asterisks represents the strength of support and resistance levels.